Rahat scheme under Punjab VAT extended to all towns

The Excise and Taxation Department, Punjab has extended the Rahat Scheme earlier notified u/s 8-A of Punjab VAT Act, 2005, to all the retailers who are carrying on business anywhere in Punjab.

Rahat Scheme is a scheme for payment of lump sum tax by retailers who conduct their business only within State of Punjab and whose gross turnover is less than Rs. 1 Crore in a financial year. 

Earlier the scheme was applicable only to a retailer who carries on his business in a place other than covered in any Corporation or Class I municipal town. However, now the scheme has been amended so as to include all municipal towns and class I towns. The new  notification has deleted sub-clause (b) from clause 1. This sub-caluse (b) provided a condition that the person opting for such scheme should not conduct any business in any corporation or Class-1 municipal town. 

The Tax slabs has also been changed 

New tax slabs are as follows:

Serial No
Taxable turnover (excluding the tumover of goods covered under single stage taxation)
Tax liability
Rs. 5 lac – Rs. l0 lac
Rs. 1000
Rs. l0 lac – Rs 25lac
Rs. 5000
Rs. 25 lac – Rs 50 lac
Rs. 10000
Rs. 50 lac - Rs. 75lac
Rs. 15000
Rs. 75 Lac - Rs. 1 Crore
Rs. 20000

Provided that no tax is payable by a person whose taxable turnover is less than Rs. five Lac, who can obtain the “No tax liability certificate” from the Department on payment of fifty rupees.

A new sub-clause 6 to clause 7 also provides that The lump sum tax and the tax slabs, shall remain un.changed till the 3lst March, 2018, whereafter, the same would be increased at the rate of five percent of the lump sum tax.

The full notification can be downloaded as follows:


Post a Comment